Sarah Lassner, Kimberly Palmer, Neldwallet
There were a lot of the first three months of 2025. The threat of tariffs, cuts in federal jobs, and still high prices for food, gas and housing shake up consumer confidence.
If you have started a hopeful year and are feeling anxious now, then lead those negative emotions into action. Spring is the perfect time to open windows, plant flowers and renew your money goals you set at the beginning of the year.
Here are some things to focus on.
1. Check your spending
Your spending habits may have fluctuated wildly over the past few years. Travel, hotels, restaurants and bars spent declined during the pandemic, while grocery and beverage outlets spent increased, according to the Federal Reserve Bank of St. Louis. After that, people went out and traveled again, so post-Covid revenge spending kicked.
Now you may be fastening your belt once more. Consumer expenditures fell in January 2025, according to data from the Bureau of Economic Analysis. “I think people are now cutting spending to see how things shake up in the new administration,” said Shea Newton, certified financial planner and president of the Financial Journey in Pensacola, Florida, in an email.
»More information: How to create an expenditure plan
2. Find a simple cut
Repetition costs are potential budget items to review as they are quietly costly in the background. If you haven’t seen the show on a particular streaming service for a while, cancel your subscription and see if you’ve actually missed it. If another mobile carrier offers similar coverage at a lower price, look into the switching.
Credit cards, especially those that charge annual fees, guarantee a regular look. As spending patterns change, consider new credit cards that will maximize your current lifestyle. Curtis Bailey, founder of Cincinnati’s Circulated Wealth Management, suggests that you first log into your credit card account and increase the summary of your spending last year and the rewards you earned.
Have you maximized your earning potential and redeemed those rewards in a valuable way? If not, it may be time to apply for a new card, he says.
3. Check in your financial goals
Priorities can change dramatically from one month to the next. “We are committed to providing financial services to our customers with a focus on providing financial services to our customers,” said Andrew Mitchell, Financial Advisor, Trustee Financial Advisor for Grand Rapids, Michigan.
For his large financial goals, Mitchell recommends that you go beyond here and now and think about what you need and want in a few years. “Even in these big things happening scenarios, if you’re fully prepared for the future, you have cash on hand so you can handle those situations,” he says.
»Listen: Nerdwallet’s Smart Money Podcast: How to set goals you can actually achieve
4. Ensure appropriate insurance coverage
Natural disasters have affected residents of multiple states over the past year, many of whom continue to address the costs of the outcome. Noahdamski, founder and wealth advisor to Marina Wealth Advisor in Los Angeles, suggests checking homeowners’ insurance policies at least every few years. Increased labor costs and building materials costs make repairs or rebuilding your home a lot more expensive.
Damski, who bought his home in 2020, recently revisited his insurance policy. “I’m only a few miles from where the wildfires were in LA,” he says.
Shop to see if other insurance providers can offer similar or better coverage at a lower cost. Also, if you’ve acquired gorgeous items in the past few years, such as jewelry and art, make sure you have a policy that covers those too.
»More: Nerdwallet Homeowner Insurance Guide
Kimberly Palmer writes for Nald Wallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer.
The measures under Article 4 towards financial spring cleaning were originally published on Nerdwallet.
Original issue: April 2, 2025, 2:38pm EDT
